SV Strategy: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
SV Strategy
Largest movements
- Cash +€89,231
up €89,231 (+278%), from €32,099 to €121,331
mainly Net result for the year (+€122,838) and Tax, wage and social debts (+€46,352)
- Current investments +€77,317
new in 2025: €77,317
- Receivables within one year -€6,618
down €6,618 (-22.9%), from €28,911 to €22,292
of which Trade receivables: -€7,616
- Reserves +€122,838
up €122,838 (+407%), from €30,192 to €153,030
- Tax, wage and social debts +€46,352
up €46,352 (+247%), from €18,800 to €65,152
of which Taxes: +€44,034
- Trade debts -€7,218
down €7,218 (-80.0%), from €9,018 to €1,799
- Gross operating margin +€137,091
up €137,091 (+359%), from €38,181 to €175,273
- Taxes +€44,045
up €44,045 (+572%), from €7,698 to €51,743
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Derived cash bridge
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €61,010 | €222,981 | +€161,971 | +265% |
| Fixed assets | 21/28 | - | €2,042 | +€2,042 | |
| Tangible fixed assets | 22/27 | - | €2,042 | +€2,042 | |
| Furniture and vehicles | 24 | - | €2,042 | +€2,042 | |
| Current assets | 29/58 | €61,010 | €220,939 | +€159,930 | +262% |
| Amounts receivable within one year | 40/41 | €28,911 | €22,292 | -€6,618 | -22.9% |
| Trade receivables | 40 | €28,436 | €20,819 | -€7,616 | -26.8% |
| Other amounts receivable | 41 | €475 | €1,473 | +€998 | +210% |
| Current investments | 50/53 | - | €77,317 | +€77,317 | |
| Cash at bank and in hand | 54/58 | €32,099 | €121,331 | +€89,231 | +278% |
| Total equity and liabilities | 10/49 | €61,010 | €222,981 | +€161,971 | +265% |
| Equity | 10/15 | €33,192 | €156,030 | +€122,838 | +370% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €30,192 | €153,030 | +€122,838 | +407% |
| Distributable reserves | 133 | €30,192 | €153,030 | +€122,838 | +407% |
| Amounts payable | 17/49 | €27,818 | €66,951 | +€39,134 | +141% |
| Amounts payable within one year | 42/48 | €27,818 | €66,951 | +€39,134 | +141% |
| Trade debts | 44 | €9,018 | €1,799 | -€7,218 | -80.0% |
| Suppliers | 440/4 | €9,018 | €1,799 | -€7,218 | -80.0% |
| Taxes, remuneration and social security | 45 | €18,800 | €65,152 | +€46,352 | +247% |
| Taxes | 450/3 | €18,800 | €62,835 | +€44,034 | +234% |
| Remuneration and social security | 454/9 | - | €2,318 | +€2,318 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €219 | +€219 | |
| Other operating charges | 640/8 | €161 | €482 | +€321 | +199% |
| Gross operating margin | 9900 | €38,181 | €175,273 | +€137,091 | +359% |
| Operating profit (loss) | 9901 | €38,020 | €174,572 | +€136,552 | +359% |
| Financial income | 75/76B | - | €46 | +€46 | |
| Recurring financial income | 75 | - | €46 | +€46 | |
| Financial charges | 65/66B | €130 | €38 | -€92 | -71.1% |
| Recurring financial charges | 65 | €130 | €38 | -€92 | -71.1% |
| Profit (loss) for the period before taxes | 9903 | €37,890 | €174,581 | +€136,691 | +361% |
| Income taxes | 67/77 | €7,698 | €51,743 | +€44,045 | +572% |
| Profit (loss) for the period | 9904 | €30,192 | €122,838 | +€92,646 | +307% |
| Profit (loss) for the period to be appropriated | 9905 | €30,192 | €122,838 | +€92,646 | +307% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 22 October 2026 via checked.be.